Pareto supported Mussolini’s ascension into power but in an article that he wrote for the Fascists’ theoretical journal he counseled them to follow a policy of low taxes and free markets – advice that Mussolini’s government would decline to follow, but all this was towards the end of Pareto’s life.
Pareto was basically an economic libertarian who was very skeptical of democracy. In that sense he was not unlike later free market economists like Milton Friedman and Friedrich Hayek who were quite happy to support Pinochet’s military dictatorship in Chile because Pinochet was willing to accept their economic advice.
Jim Farmelant http://independent.academia.edu/JimFarmelant http://www.foxymath.com Learn or Review Basic Math
---------- Original Message ---------- From: michael perelman <michael.perelman3 at gmail.com> To: lbo-talk at lbo-talk.org Subject: Re: [lbo-talk] (no subject) Date: Mon, 23 Apr 2012 19:45:32 -0700
Sorry that I forgot the title:
Pareto's Law: Understanding Inequality
On Mon, Apr 23, 2012 at 7:37 PM, michael perelman
<michael.perelman3 at gmail.com> wrote:
> Economists, fond of making their work into a science, like to
> transform their ideas into a "scientific" law. �Accordingly, the
> Fascist Italian senator, Vilfredo Pareto is credited with discovering
> Pareto's Law, which explains why inequality �is a natural outcome.
> Pareto suggested that 20% of causes create 80% of effects. �He argued
> that this law explains why 20% of the Italian population owned 80% of
> the wealth. �Sadly, the U.S. experience calls Pareto's data into
> question, but then, those lazy Southern Europeans wallow in socialism.
>
> There is a second Pareto Law, which offers a more accurate explanation
> inequality. �In his Manual of Political Economy, he explained:
>
> More at:
>
> http://michaelperelman.wordpress.com/2012/04/24/paretos-law-understanding-inequality/
>
>
> --
> Michael Perelman
> Economics Department
> California State University
> Chico, CA
> 95929
>
> 530 898 5321
> fax 530 898 5901
> http://michaelperelman.wordpress.com
> ___________________________________
> http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
-- Michael Perelman Economics Department California State University Chico, CA 95929
530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com
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